Your client paid its annual rent in one lump sum of $24,000 on April 1, 2021. You

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Question:

Your client paid its annual rent in one lump sum of $24,000 on April 1, 2021. You received a trial balance for the year ended December 31, 2021 and realized that the client reported rental expenses of $24,000 for the year. Is this correct? If not, propose the adjusting journal entry needed to reflect the correct values at December 31, 2021.